ROLLERCOASTER: European stocks yo-yoed into the weekend

Flickr / Geff
Stocks across Europe rode a rollercoaster on Friday, crashing in early trade before rebounding sharply to close as the woes of Germany's biggest bank, Deutsche Bank dominated market narratives on the final day of the year's third quarter.

Stocks across the board followed a similar pattern, with the financial services sector in particular feeling the pain in the morning before fighting back.

At the close, the Stoxx index of European banking shares opened almost 4% down, but eventually closed higher by more than 1% as the sector looked positively on rumours of Deutsche's deal with the DoJ. Here's how the index looked at the close (note the massive rebound):

Investing.com

On a bank-by-bank basis, only a handful of lenders finished the day in negative territory after almost every single banking stock fell during the morning. One major exception was Germany's Commerzbank which fell 1.2% after news that it plans to axe almost 10,000 jobs.

Here's the scoreboard from some of the continent's top banks

Unicredit — up 1.77% having been down more than 6%

Societe Generale — down 0.11% having been down 5%

Credit Agricole — up 0.95% having been more than 4.5% lower

Santander — down 0.1% having been down 6%

Barclays — up 0.06%

Royal Bank of Scotland — up 0.90%

However, it is not only the banking sector that witnessed a substantial bounce back on the day, with all of the continent's major share indexes significantly higher in the afternoon than in the morning. Several indexes opened more than 2% lower, but eventually closed in positive territory, with Germany's DAX swinging almost 3% from open to close. Here's the scoreboard: